Orlando Man Arrested for Alleged Elder Investment Fraud Scheme

FL OFR Press Releases

Filed December 23rd, 2022

Detected April 7th, 2026

Summary

The Florida Office of Financial Regulation announced the arrest of Anthony Michael Hernandez on charges of organized fraud, exploitation of the elderly, unregistered securities sales, and bank fraud. Hernandez is accused of orchestrating a $1.6 million investment fraud scheme targeting more than 300 mostly elderly investors across 37 states. Bond was set at $1.95 million.

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What changed

The Florida OFR announced the arrest of Anthony Michael Hernandez on multiple criminal charges stemming from an alleged investment fraud scheme exceeding $1.6 million. Hernandez allegedly sold unregistered pre-IPO securities in Oi2GO Media Technologies, Inc., falsely claiming the company was a Spanish-language Netflix equivalent with 1,700 online radio stations. OFR investigators found no evidence supporting these claims, and court documents allege the vast majority of investor funds were used for Hernandez's personal lifestyle expenses. Hernandez faces charges including organized fraud, exploitation of an elderly person, selling securities as an unregistered person, and depositing funds in a bank with intent to defraud.

Florida investors who suspect financial fraud should report suspicious activity to the OFR through its online complaint portal or by calling (850) 487-9687. This case highlights ongoing risks of investment schemes targeting elderly populations through television and social media advertisements. The Florida Department of Financial Services secured the arrest, and Attorney General Ashley Moody's Office of Statewide Prosecution is handling the criminal case.

What to do next

Report suspected financial scams to FL OFR via online complaint portal or (850) 487-9687
Verify any investment adviser or securities seller is properly registered before investing
Alert elderly clients or family members about social media and television investment advertisement scams

Penalties

$1.95 million bond set; charges include organized fraud, exploitation of elderly, unregistered securities sales, and bank fraud

Source document (simplified)

Orlando Man Arrested for Alleged Role in Elder Investment Scam

12/23/2022

Tallahassee, Fla. - The Office of Financial Regulation (OFR) today announced that Anthony Michael Hernandez was arrested on charges of organized fraud, exploitation of an elderly person, selling securities as an unregistered person, and depositing funds in a bank with intent to defraud. Hernandez was booked into the Orange County Jail. His bond was set at $1.95 million.

Attorney General Ashley Moody said, “This defendant placed misleading advertisements on television and social media, tricking victims, including many seniors, into believing that their investment would bring back big returns. Instead, the defendant used their money to pay personal expenses. Working with state and federal partners, we have shut down this devious investment scheme and will hold the defendant accountable in court.”

OFR Commissioner Russell C. Weigel, III, said, “We will continue to work with our partners to stop financial fraud and protect Floridians from scammers. Thank you to OFR’s investigators, the Florida Department of Financial Services, Division of Investigative and Forensic Services, and Attorney General Ashley Moody’s Office of Statewide Prosecution for their hard work to bring this case forward.”

According to documents submitted to the court by OFR investigators for issuance of the arrest warrant, the charges against Hernandez stem from his alleged involvement in a more than $1.6 million investment fraud scheme that victimized more than 300 mostly elderly investors in 37 states, including Florida. The court documents allege that Hernandez used television and social media advertisements to lure individuals to invest in pre-IPO shares of his company, Oi2GO Media Technologies, Inc. Hernandez purportedly claimed that the company was the Spanish-language equivalent of Netflix, with a network of 1,700 online radio stations and more than 1,000 affiliated radio stations. He also allegedly claimed that his company had a wide advantage over other video and digital streaming companies such as Netflix, YouTube, Amazon and iTunes. However, the court documents allege that OFR investigators found no evidence that Oi2Go had a network of 1,700 online radio stations or affiliated radio stations and the vast majority of money obtained from investors was used by Hernandez to fund his personal lifestyle.

The OFR investigated the case and the Florida Department of Financial Services, Division of Investigative and Forensic Services secured the arrest. Attorney General Ashley Moody’s Office of Statewide Prosecution is prosecuting the criminal case.

Floridians who suspect a financial scam or questionable business practices are encouraged to submit a complaint online at www.flofr.gov, or by calling (850) 487-9687.

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